According to the Bureau of Labor Statistics' latest price inflation data, CPI inflation in January accelerated, and price inflation hasn't proven nearly as transitory as the regime's economists have long predicted.
There's still no sign that the rate of price inflation is approaching zero or going away.
The dangers of persistent price inflation were further driven home in January by the fact that real wages turned negative for the first time in nine months.
Apologists for the administration continue to insist that inflation is "Falling"-or even slowing-even though price inflation has continued to surge upward.
The Biden administration would have us believe that inflation is going away because the CPI's measure of price inflation has somewhat stabilized around 3.2 percent over the past six months.
During the Super Bowl, for example, President Biden released a video statement attempting to blame corporate greed for "Shrinkflation." This claim is just the latest in a series of false narratives used to blame price inflation on everything but the real cause-the central bank.
With food prices surging, real wages falling, and housing costs reaching record levels of unaffordability, look no further than the Fed for the real cause.
https://mises.org/mises-wire/real-wages-turn-negative-again-price-inflation-refuses-go-away
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